Metro Bank has reported a 138 per cent increase in pre-tax profits, with client deposits and loans rising significantly in 2018.
The challenger bank, which made its first profit last year, said it made £50m before tax in the 12 months to the end of December, up from £21m in 2017.
Craig Donaldson, chief executive of Metro Bank, said: "2018 was another strong year of growth for Metro Bank as we continued to invest in both new stores and digital capabilities to win customers, deposits, assets and to create fans."
Metro Bank's client deposits reached £15.7bn by the end of the year, an increase of 34 per cent on 2017, following quarterly growth of £848m, the company said.
Meanwhile loans totaled £14.2bn - an increase of 48 per cent on the previous year.
Metro Bank's loan to deposit ratio grew from 82 per cent to 91 per cent over the year.
It operates 66 branches and during the fourth quarter it opened stores in Bath, Crawley, Northampton, Putney, Ashford, and Piccadilly and neared completion of a branch in London’s Moorgate, which opened in early January.
The company reported its profits had "softened" in the last quarter of the year, but Mr Donaldson said: "Metro Bank remains well positioned to support our growth strategy as we navigate an uncertain period for the UK."
